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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Jul. 26, 2018
Document And Entity Information
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	0001324948
Document Type	10-Q
Trading Symbol	ROLL
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		24,596,265
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 55,656	$ 54,163
Accounts receivable, net of allowance for doubtful accounts of $1,252 at June 30, 2018 and $1,326 at March 31, 2018	116,211	116,890
Inventory	311,305	306,124
Prepaid expenses and other current assets	7,626	6,473
Total current assets	490,798	483,650
Property, plant and equipment, net	191,636	192,513
Goodwill	268,122	268,124
Intangible assets, net of accumulated amortization of $41,243 at June 30, 2018 and $38,880 at March 31, 2018	181,867	183,764
Other assets	15,540	14,700
Total assets	1,147,963	1,142,751
Current liabilities:
Accounts payable	44,058	45,188
Accrued expenses and other current liabilities	40,251	40,777
Current portion of long-term debt	470	19,238
Total current liabilities	84,779	105,203
Deferred income taxes	14,219	11,749
Long-term debt, less current portion	143,823	154,117
Other non-current liabilities	38,574	37,130
Total liabilities	281,395	308,199
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at June 30, 2018 and March 31, 2018; none issued or outstanding
Common stock, $.01 par value; authorized shares: 60,000,000 at June 30, 2018 and March 31, 2018; issued shares: 25,311,181 at June 30, 2018 and 25,123,694 at March 31, 2018; outstanding shares: 24,227,591 at June 30, 2018 and 24,105,029 at March 31, 2018	253	251
Additional paid-in capital	349,330	339,148
Accumulated other comprehensive loss	(6,152)	(2,285)
Retained earnings	564,168	536,978
Treasury stock, at cost, 725,552 shares at June 30, 2018 and 713,687 shares at March 31, 2018	(41,031)	(39,540)
Total stockholders' equity	866,568	834,552
Total liabilities and stockholders' equity	$ 1,147,963	$ 1,142,751

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,252	$ 1,326
Intangible assets, accumulated amortization	$ 41,243	$ 38,880
Preferred stock, par value (in dollars per share)	$ .01	$ .01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ .01	$ .01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	25,311,181	25,123,694
Common stock, outstanding	24,227,591	24,105,029
Treasury stock, shares	725,552	713,687

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Income Statement [Abstract]
Net sales	$ 175,985	$ 163,897
Cost of sales	108,246	101,881
Gross margin	67,739	62,016
Operating expenses:
Selling, general and administrative	29,575	27,778
Other, net	2,166	2,279
Total operating expenses	31,741	30,057
Operating income	35,998	31,959
Interest expense, net	1,711	2,029
Other non-operating expense	1,034	531
Income before income taxes	33,253	29,399
Provision for income taxes	5,786	7,590
Net income	$ 27,467	$ 21,809
Net income per common share:
Basic (in dollars per share)	$ 1.14	$ 0.92
Diluted (in dollars per share)	$ 1.12	$ 0.90
Weighted average common shares:
Basic (in shares)	24,140,778	23,805,138
Diluted (in shares)	24,543,589	24,189,375

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 27,467	$ 21,809
Pension and postretirement liability adjustments, net of taxes	194	196
Foreign currency translation adjustments	(4,061)	4,445
Total comprehensive income	$ 23,600	$ 26,450

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Cash flows from operating activities:
Net income	$ 27,467	$ 21,809
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,950	4,745
Deferred income taxes	2,470	2,031
Amortization of intangible assets	2,363	2,353
Amortization of deferred financing costs	329	356
Consolidation and restructuring charges	(25)
Loss on extinguishment of debt	987
Stock-based compensation	3,766	3,228
Loss on disposition of assets	(11)	1
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	178	(2,317)
Inventory	(7,182)	(1,491)
Prepaid expenses and other current assets	(114)	1,166
Other non-current assets	(1,304)	(391)
Accounts payable	(940)	2,956
Accrued expenses and other current liabilities	(739)	5,697
Other non-current liabilities	1,640	(334)
Net cash provided by operating activities	33,835	39,809
Cash flows from investing activities:
Purchase of property, plant and equipment	(6,993)	(5,659)
Proceeds from sale of assets	1,843	3
Net cash used in investing activities	(5,150)	(5,656)
Cash flows from financing activities:
Proceeds received from revolving credit facility	149,250
Repayments of revolving credit facility	(10,500)	(30,000)
Repayments of term loans	(168,750)	(2,500)
Repayments of notes payable	(117)	(120)
Exercise of stock options	6,418	6,107
Repurchase of common stock	(1,491)	(2,288)
Net cash used in financing activities	(25,190)	(28,801)
Effect of exchange rate changes on cash	(2,002)	1,188
Cash and cash equivalents:
Increase during the period	1,493	6,540
Cash, at beginning of period	54,163	38,923
Cash, at end of period	55,656	45,463
Supplemental disclosures of cash flow information:
Income taxes	843	313
Interest	$ 1,169	$ 1,449

Basis of Presentation

3 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

1. Basis of Presentation

The interim consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2018. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP). As used in this report, the terms “we”, “us”, “our”, “RBC”, “RBCA” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning.

These statements reflect all adjustments, accruals and estimates consisting only of items of a normal recurring nature, which are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Annual Report on Form 10-K.

The results of operations for the three month period ended June 30, 2018 are not necessarily indicative of the operating results for the entire fiscal year ending March 30, 2019. The three month periods ended June 30, 2018 and July 1, 2017 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated.

Significant Accounting Policies

3 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

The Company’s significant accounting policies are detailed in “Note 2 - Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the year ended March 31, 2018. Significant changes to our accounting policies as a result of adopting new accounting standards are discussed below.

Recent Accounting Standards Adopted

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The Company adopted this standard on April 1, 2018. This new guidance provides a five-step model to determine when and how revenue is recognized, and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (“LTA’s”) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTA’s generally define commercial terms including pricing, termination clauses and other contractual requirements, they do not represent the contract with the customer.

When the Company accepts or acknowledges the customer purchase order, the type of good or service is defined on a line by line basis. Individual performance obligations are established by virtue of the individual line items identified on the sales order acknowledgment at the time of issuance. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work. The performance obligations for these services are also identified on the sales order acknowledgement at the time of issuance on a line by line basis.

Transaction price reflects the amount of consideration which the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. For the majority of our contracts, the Company may provide distinct goods or services in which case we separate the contract into more than one performance obligation (i.e. a good or service is individually listed in a contract or sold individually to a customer). The Company generally sells products and services with observable standalone selling prices.

The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped, consistent with the pattern of revenue recognition under the previous accounting standard. The Company has determined that the customer obtains control upon shipment based on the shipping terms (either when it ships from RBC’s docks or when the product arrives at the customer’s docks) and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the asset. Approximately 93% of the Company’s revenue was recognized in this manner based on sales for the first quarter of fiscal 2019.

The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined over-time revenue recognition is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Approximately 6% of the Company’s revenue was recognized in this manner based on sales for the first quarter of fiscal 2019. Over-time revenue recognition is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. These types of contracts comprised less than 1% of total sales for the three-month period ended June 30, 2018. For both of these types of contracts, revenue is recognized in an over-time model based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs.

Contract costs are the incremental costs of obtaining and fulfilling a contract (i.e., costs that would not have been incurred if the contract had not been obtained) to provide goods and services to customers. Contract costs largely consist of design and development costs for molds, dies and other tools that RBC will own and that will be used in producing the products under the supply arrangements. These contract costs are amortized to expense on a systematic and rational basis over a period consistent with the transfer to the customer of the goods or services to which the asset relates. Costs incurred to obtain a contract are primarily related to sales commissions and are expensed as incurred as they are generally not tied to specific customer contracts. These costs are included within selling, general and administrative costs on the consolidated statements of operations.

In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the respective estimated shipping and handling costs are accrued.

In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting”, in an effort to reduce diversity in practice as it relates to applying modification accounting for changes to the terms and conditions of share-based payment awards. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption was permitted. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements.

In March 2017, the FASB issued ASU No. 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, in all effort to improve the presentation of these costs within the income statement. Under previous GAAP, all components of both net periodic pension cost and net periodic postretirement cost were included within the same line items as other compensation costs arising from services rendered by pertinent employees during the period on the income statement. This ASU requires entities to include only the service cost component within those line items whereas all other components would be included within other non-operating expense. In addition, only the service cost component would be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. A practical expedient allows the Company to use the amount disclosed for net periodic benefit costs for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company retrospectively adopted the ASU on April 1, 2018 and utilized this practical expedient. The adoption of this ASU resulted in the reclassification of $0.2 million of net periodic benefit cost from compensation costs (included within Cost of sales and Other, net) to Other non-operating expense on the Consolidated Statement of Operations for the three-month period ended July 1, 2017.

In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740):Intra-Entity Transfers of Assets Other Than Inventory”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Previous GAAP prohibited the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU established the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application was permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application was permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements.

Recent Accounting Standards Yet to Be Adopted

In February 2018, the FASB issued ASU No. 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” which allows companies to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (“TCJA” or “the Act”), from accumulated other comprehensive income to retained earnings. These stranded tax effects refer to the tax amounts included in accumulated other comprehensive income at the previous 35% U.S. corporate statutory federal tax rate, for which the related deferred tax asset or liability was remeasured to the new 21% U.S. corporate statutory federal tax rate in the period of the TCJA enactment. The new standard is effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and can be applied either in the period of adoption or retrospectively to each period impacted by the TCJA. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on the Company’s financial position as the adjustment will be between accumulated other comprehensive income and retained earnings, both of which are components of total stockholders’ equity.

In January 2017, the FASB issued ASU No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”. The objective of this standard update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The standard update is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

In September 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”, which changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance will replace the current incurred loss approach with an expected loss model. The new expected credit loss impairment model will apply to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application will require significant judgment. This ASU is effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The core principle of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company has formed an implementation team to assess its leases as defined under the new accounting standard and anticipates making certain changes to existing processes, policies and systems during implementation. The Company anticipates the amended guidance will have a material impact on its assets and liabilities due to the addition of right-of-use assets and lease liabilities to the balance sheet; however, it does not expect the amended guidance to have a material impact on its cash flows or results of operations.

Other new pronouncements issued but not effective until after March 30, 2019 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with Customers

3 Months Ended

Jun. 30, 2018

Revenue From Contracts With Customers

Revenue from Contracts with Customers

3. Revenue from Contracts with Customers

Adoption Method and Impact

The Company adopted ASC 606 using the modified retrospective method and applied the related provisions to all open contracts. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. As a result of adoption, the Company recognized a $0.3 million decrease to retained earnings at the beginning of the 2019 fiscal year for the cumulative effect of adoption of this standard, representing the impact to prior results had the over-time revenue recognition model been applied to service contracts. Contract assets of $1.3 million and contract liabilities of $0.8 million were recorded, along with a $0.8 million reduction to work-in-process inventory as a result of the ASC 606 adoption using the modified retrospective method.

In addition, as a result of the accounting changes resulting from this new accounting standard, first quarter fiscal 2019 sales, operating income and net income increased by $1.1 million, $0.6 million and $0.5 million, respectively. Basic and diluted net income per common share each increased by $0.02. These changes are attributable to revenue from service contracts being accelerated into the first quarter of fiscal 2019 as a result of the change to an over-time revenue recognition model. On the consolidated balance sheet, work-in-process inventory was $1.4 million lower at June 30, 2018 compared to what it would have been under the previous accounting guidance. In addition, prepaids and other current assets, accrued expenses and other current liabilities and retained earnings increased by $2.3 million, $0.6 million and $0.2 million, respectively. The changes in other current assets and accrued expenses were directly related to the activity within the customer contract assets and liabilities.

Disaggregation of Revenue

The Company operates in four business segments with similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers. Revenue is disaggregated within these business segments by our two principal end markets: aerospace and industrial. Comparative information of the Company’s overall revenues for the three months ended June 30, 2018 and July 1, 2017 are as follows:

Principal End Markets:

	Three Months Ended

	June 30, 2018						July 1, 2017
	Aerospace		Industrial		Total		Aerospace		Industrial		Total
Plain	$	56,384	$	22,141	$	78,525	$	54,471	$	18,182	$	72,653
Roller		16,887		18,983		35,870		15,939		15,474		31,413
Ball		4,004		14,070		18,074		3,645		12,135		15,780
Engineered Products		27,216		16,300		43,516		29,407		14,644		44,051
	$	104,491	$	71,494	$	175,985	$	103,462	$	60,435	$	163,897

In addition to disaggregating revenue by segment and principal end markets, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. Refer to Note 2 – “Significant Accounting Policies” for further details.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC 606, is less than one year. The Company has elected to apply the practical expedient which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $195,384 at June 30, 2018. The Company expects to recognize revenue on approximately 74% and 96% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

Contract Balances

The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets.

Contract Assets (Unbilled Receivables) - Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when 1) the cost-to-cost method is applied and 2) such revenue exceeds the amount invoiced to the customer.

Contract Liabilities (Deferred Revenue) - The Company may receive a customer advance or deposit, or have an unconditional right to receive a customer advance, prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. Contract liabilities are included within accrued expenses and other current liabilities or other non-current liabilities on the consolidated balance sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.

These assets and liabilities are reported on the consolidated balance sheet on an individual contract basis at the end of each reporting period. As of June 30, 2018 and March 31, 2018, accounts receivable with customers, net, were $116,211 and $116,890, respectively. The tables below represent a rollforward of contract assets and contract liabilities for the first quarter ended June 30, 2018:

Contract Assets - Current ⁽¹⁾

Balance at April 1, 2018	$	1,323
Additional revenue recognized in excess of billings		1,361
Less: amounts billed to customers		(333	)
Balance at June 30, 2018	$	2,351
(1) Included within “Prepaid expenses and other current assets” on the consolidated balance sheet.

Contract Liabilities – Current ⁽²⁾

Balance at April 1, 2018	$	14,450
Payments received prior to revenue being recognized		3,211
Revenue recognized on beginning balance		(5,034	)
Reclassification to/from noncurrent		(914	)
Balance at June 30, 2018	$	11,713
(2) Included within “Accrued expenses and other current liabilities” on the consolidated balance sheet.

Contract Liabilities – Noncurrent ⁽³⁾

Balance at April 1, 2018	$	1,254
Reclassification to/from current		914
Balance at June 30, 2018	$	2,168
(3) Included within “Other non-current liabilities” on the consolidated balance sheet.

As of June 30, 2018, the Company does not have any contract assets classified as noncurrent on the consolidated balance sheet.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Income (Loss)

4. Accumulated Other Comprehensive Income (Loss)

The components of comprehensive income (loss) that relate to the Company are net income, foreign currency translation adjustments and pension plan and postretirement benefits.

The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes:

	Currency Translation	Pension and Postretirement Liability	Total
Balance at April 1, 2018	$ 2,213	$(4,498)	$(2,285)
Other comprehensive income before reclassifications	(4,061)	—	(4,061)
Amounts reclassified from accumulated other comprehensive income	—	194	194
Net current period other comprehensive income	(4,061)	194	(3,867)
Balance at June 30, 2018	$(1,848)	$(4,304)	$(6,152)

Net Income Per Common Share

3 Months Ended

Jun. 30, 2018

Net income per common share:

Net Income Per Common Share

5. Net Income Per Common Share

Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding.

Diluted net income per common share is computed by dividing net income by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options.

The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share:

	Three Months Ended
	June 30, 2018	July 1, 2017

Net income	$27,467	$21,809

Denominator for basic net income per common share—weighted-average shares outstanding	24,140,778	23,805,138
Effect of dilution due to employee stock awards	402,811	384,237
Denominator for diluted net income per common share — weighted-average shares outstanding	24,543,589	24,189,375

Basic net income per common share	$ 1.14	$ 0.92

Diluted net income per common share	$ 1.12	$ 0.90

At June 30, 2018, 87,540 employee stock options and 204,175 restricted shares have been excluded from the calculation of diluted earnings per share. At July 1, 2017, 221,500 employee stock options and no restricted shares have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options and restricted shares would be anti-dilutive.

Cash and Cash Equivalents

3 Months Ended

Jun. 30, 2018

Cash and cash equivalents:

Cash and Cash Equivalents

6. Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Short-term investments, if any, are comprised of equity securities and are measured at fair value by using quoted prices in active markets and are classified as Level 1 of the valuation hierarchy.

Inventory

3 Months Ended

Jun. 30, 2018

Inventory, Net [Abstract]

Inventory

7. Inventory

Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below:

	June 30, 2018	March 31, 2018
Raw materials	$ 47,620	$ 44,102
Work in process	77,692	77,890
Finished goods	185,993	184,132
	$311,305	$306,124

Goodwill and Intangible Assets

3 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

Goodwill

	Roller	Plain	Ball	Engineered Products	Total
April 1,2018	$16,007	$79,597	$5,623	$166,897	$268,124
Translation adjustments	—	—	—	(2)	(2)
June 30, 2018	$16,007	$79,597	$5,623	$166,895	$268,122

Intangible Assets

		June 30, 2018		March 31, 2018
	Weighted Average Useful Lives	Gross Carrying Amount	Accumulated Amortization	Gross Carrying Amount	Accumulated Amortization
Product approvals	24	$ 50,878	$ 8,882	$ 50,878	$ 8,351
Customer relationships and lists	24	106,583	17,569	106,583	16,499
Trade names	10	18,734	7,229	18,734	6,765
Distributor agreements	5	722	722	722	722
Patents and trademarks	16	9,875	4,996	9,657	4,810
Domain names	10	437	437	437	430
Other	6	1,681	1,408	1,433	1,303
		188,910	41,243	188,444	38,880
Non-amortizable repair station certifications	n/a	34,200	—	34,200	—
Total		$223,110	$41,243	$222,644	$38,880

Amortization expense for definite-lived intangible assets for the three months ended June 30, 2018 and July 1, 2017 was $2,363 and $2,353, respectively. Estimated amortization expense for the remaining nine months of fiscal 2019, the five succeeding fiscal years and thereafter is as follows:

2019………………………………………………………………………………………….	$ 6,679
2020………………………………………………………………………………………….	8,948
2021………………………………………………………………………………………….	8,896
2022………………………………………………………………………………………….	8,779
2023………………………………………………………………………………………….	8,695
2024………………………………………………………………………………………….	8,564
2025 and thereafter…………………………………………………………………………..	97,106

Debt

3 Months Ended

Jun. 30, 2018

Debt Instruments [Abstract]

Debt

9. Debt

The balances payable under all borrowing facilities are as follows:

	June 30, 2018	March 31, 2018
Revolver Facility	$139,250	$ 500
Term Loan Facility	—	168,750
Debt issuance costs	(1,651)	(2,968)
Other	6,694	7,073
Total debt	144,293	173,355
Less: current portion	470	19,238
Long-term debt	$143,823	$154,117

The current portion of long-term debt as of June 30, 2018 includes the current portion of the Schaublin mortgage. The current portion of long-term debt as of March 31, 2018 includes the current portion of the Schaublin mortgage and the current portion of the Term Loan Facility.

Credit Facility

In connection with the Sargent Aerospace & Defense (“Sargent”) acquisition on April 24, 2015, the Company entered into a credit agreement (the “Credit Agreement”) and related Guarantee, Pledge Agreement and Security Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other lenders party thereto and terminated the JP Morgan Credit Agreement. The Credit Agreement provides RBCA, as Borrower, with (a) a $200,000 Term Loan and (b) a $350,000 Revolver and together with the Term Loan (the “Facilities”). The Facilities expire on April 24, 2020.

Amounts outstanding under the Facilities generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company's consolidated ratio of total net debt to consolidated EBITDA from time to time. Currently, the Company's margin is 0.00% for base rate loans and 1.00% for LIBOR rate loans.

On May 31, 2018, the Company paid down the remaining balance of the Term Loan. $987 in unamortized debt issuance costs associated with the Term Loan were written off at the time of payoff and were recorded within Other non-operating expense on the consolidated statements of operations.

The Credit Agreement requires the Company to comply with various covenants, including among other things, financial covenants to maintain the following: (1) a ratio of consolidated net debt to adjusted EBITDA, not to exceed 3.50 to 1; and (2) a consolidated interest coverage ratio not to be less than 2.75 to 1. The Credit Agreement allows the Company to, among other things, make distributions to shareholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the agreement. As of June 30, 2018, the Company was in compliance with all such covenants.

The Company’s obligations under the Credit Agreement are secured as well as providing for a pledge of substantially all of the Company’s and RBCA’s assets. The Company and certain of its subsidiaries have also entered into a Guarantee to guarantee RBCA’s obligations under the Credit Agreement.

Approximately $3,990 of the Revolver is being utilized to provide letters of credit to secure RBCA’s obligations relating to certain insurance programs. As of June 30, 2018, $1,651 in unamortized debt issuance costs remain. As of June 30, 2018, RBCA has the ability to borrow up to an additional $206,760 under the Revolver.

Other Notes Payable

On October 1, 2012, one of our foreign divisions, Schaublin, purchased the land and building, which it occupied and had been leasing, for 14,067 CHF (approximately $14,910). Schaublin obtained a 20-year fixed-rate mortgage of 9,300 CHF (approximately $9,857) at an interest rate of 2.9%. The balance of the purchase price of 4,767 CHF (approximately $5,053) was paid from cash on hand. The balance on this mortgage as of June 30, 2018 was 6,626 CHF, or $6,694.

Postretirement Health Care and Life Insurance Benefits

3 Months Ended

Jun. 30, 2018

Defined Contribution Plan [Abstract]

Pension Plan and Postretirement Health Care and Life Insurance Benefits

10. Pension Plan and Postretirement Health Care and Life Insurance Benefits

The following tables set forth the net periodic benefit cost of the Company’s noncontributory defined benefit pension plan and contributory defined benefit health care plans. The amounts for the three months ended June 30, 2018 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of the respective period’s proportionate share of the amounts to be recorded for the year ending March 30, 2019. The amounts disclosed below for the three month period ending July 1, 2017 were calculated based on the amounts disclosed within the Company’s fiscal 2018 annual filing.

Pension Plan:

	Three Months Ended
	June 30, 2018	July 1, 2017
Components of net periodic benefit cost:
Service cost	$ 64	$ 58
Interest cost	221	226
Expected return on plan assets	(417)	(403)
Amortization of prior service cost	9	9
Amortization of losses	249	302
Net periodic benefit cost	$126	$192

Postretirement Health Care and Life Insurance Benefits:

	Three Months Ended
	June 30, 2018	July 1, 2017
Components of net periodic benefit cost:
Service cost	$12	$ 8
Interest cost	23	25
Amortization of prior service cost	1	1
Amortization of losses	(7)	(1)
Net periodic benefit cost	$29	$33

The components of net periodic benefit cost other than the service component are included in Other non-operating expense on the Consolidated Statements of Operations.

Income Taxes

3 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

The Company files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to state or foreign income tax examinations by tax authorities for years ending before April 2, 2005. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before March 29, 2015. A U.S. federal tax examination by the Internal Revenue Service for the year ended March 30, 2013 was effectively settled in fiscal 2016.

The effective income tax rates for the three month periods ended June 30, 2018 and July 1, 2017, were 17.4% and 25.8%. The reduction in the effective income tax rate for the three months ended June 30, 2018 as compared with the prior year period primarily reflects the net benefits of the Tax Cut and Jobs Act (“TCJA” or “the Act”), which reduced the U.S. statutory rate from 35% to 21% for tax years beginning in 2018 and made other changes to the U.S. federal income tax laws affecting both domestic and foreign income.

TCJA was signed into law on December 22, 2017 revising the U.S. corporate income tax. Changes included, but are not limited to, the reduction of the U.S. federal corporate rate from 35% to 21%, the elimination of certain deductions and imposing one-time net charge related to the taxation of undistributed foreign earnings. Also on December 22, 2017, the SEC issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations where a registrant does not have the necessary information available, prepared or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Act. In accordance with SAB 118, the accounting for the tax effects of TCJA is not complete as of June 30, 2018; however, reasonable estimates have been made.

Provisional estimates of $9,166 for the one-time net charge related to the taxation of undistributed foreign earnings and $9,318 tax benefit related to the remeasurement of U.S. deferred tax balances to reflect the new U.S. corporate income tax rate were recognized as components of income tax expense as of March 31, 2018. No changes have been made to these provisional estimates during the three months ended June 30, 2018. Additional information and analysis of the Act is still needed to prepare a more detailed analysis of the Company’s deferred tax assets and liabilities, as well as historical foreign earnings and profits and potential correlative adjustments. Any subsequent adjustments to the Company’s provisional estimates will be recorded to current tax expense in the quarter of fiscal year 2019 when further analysis is complete.

No additional income tax provision has been made on any remaining undistributed foreign earnings not subject to the one-time net charge related to the taxation of unremitted foreign earnings or any additional outside basis difference as these amounts continue to be indefinitely reinvested in foreign operations.

One of the international tax law changes provided for with TCJA relates to the taxation of a corporation’s global intangible low-taxed income (“GILTI”) for tax years beginning after December 31, 2017. The Company has evaluated this provision of TCJA and the application of ASC 740, and does not believe that GILTI will have a significant impact.

In addition to discrete items, the effective income tax rates for these periods are different from the U.S. statutory rates due to a special U.S. manufacturing deduction, the U.S. credit for increasing research activities which decrease the rate, and state income taxes which increases the rate.

The effective income tax rate for the three month period ended June 30, 2018 of 17.4% includes discrete items of $1,404 primarily comprised of excess tax benefits associated with share based compensation and items associated with the release of unrecognized tax positions associated with statute of limitations expiration. The effective income tax rate without discrete items for the three month period ended June 30, 2018 would have been 21.6%. The effective income tax rate for the three month period ended July 1, 2017 of 25.8% includes discrete items of $2,322 primarily comprised of excess tax benefits associated with shared based compensation and items associated with the release of unrecognized tax positions associated with statute of limitations expiration. The effective income tax rate without discrete items for the three month period ended July 1, 2017 would have been 33.7%. The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled within the next twelve months due to the closing of audits and the statute of limitations expiring in varying jurisdictions. The decrease, pertaining primarily to items associated with the consolidation and restructuring of the company’s U.K. manufacturing facility and to credits and state tax, is estimated to be approximately $1,734.

Reportable Segments

3 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Reportable Segments

12. Reportable Segments

The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. Those operating segments are aggregated as reportable segment as they have similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers.

The Company has four reportable business segments, Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below.

Plain Bearings. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consists of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings. Unlike ball bearings, which are used in high-speed rotational applications, plain bearings are primarily used to rectify inevitable misalignments in various mechanical components.

Roller Bearings. Roller bearings are anti-friction bearings that use rollers instead of balls. The Company manufactures four basic types of roller bearings: heavy-duty needle roller bearings with inner rings, tapered roller bearings, track rollers and aircraft roller bearings.

Ball Bearings. The Company manufactures four basic types of ball bearings: high precision aerospace, airframe control, thin section and commercial ball bearings which are used in high-speed rotational applications.

Engineered Products. Engineered Products consists of highly engineered hydraulics, fasteners, collets and precision components used in aerospace, marine and industrial applications.

Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

	Three Months Ended
	June 30, 2018			July 1, 2017
Net External Sales
Plain	$	78,525		$	72,653
Roller		35,870			31,413
Ball		18,074			15,780
Engineered Products		43,516			44,051
	$	175,985		$	163,897
Gross Margin
Plain	$	30,616		$	28,450
Roller		14,957			12,788
Ball		7,279			6,175
Engineered Products		14,887			14,603
	$	67,739		$	62,016
Selling, General & Administrative Expenses
Plain	$	6,362		$	6,449
Roller		1,624			1,571
Ball		1,602			1,615
Engineered Products		5,360			5,277
Corporate		14,627			12,866
	$	29,575		$	27,778
Operating Income
Plain	$	21,687		$	21,235
Roller		13,332			11,216
Ball		5,618			4,495
Engineered Products		10,634			8,217
Corporate		(15,273	)		(13,204	)
	$	35,998		$	31,959
Intersegment Sales
Plain	$	1,597		$	1,156
Roller		4,095			3,409
Ball		800			528
Engineered Products		9,138			8,173
	$	15,630		$	13,266

All intersegment sales are eliminated in consolidation.

Integration and Restructuring of Industrial Operations

3 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

Integration and Restructuring of Industrial Operations

13. Integration and Restructuring of Industrial Operations

In the second quarter of fiscal 2018, the Company reached a decision to restructure its manufacturing operation in Montreal, Canada. After completing its obligations, the Company has closed its RBC Canada location and consolidated certain residual assets into other locations. As a result, the Company recorded an after-tax charge of $5,577 associated with the restructuring in the second quarter of fiscal 2018 attributable to the Engineered Products segment. The $5,577 charge includes a $1,337 impairment of fixed assets and a $5,157 impairment of intangible assets offset by a $917 tax benefit. The impairment charges were recognized within the “Other, net” line item within the consolidated statement of operations. The Company determined that the market approach was the most appropriate method to estimate the fair value of the fixed assets using comparable sales data and actual quotes from potential buyers in the market place. The fixed assets are comprised of land, a building, machinery and equipment. The Company assessed the fair value of the intangible assets in accordance with ASC 360-10, which are comprised of customer relationships, product approvals, tradenames and trademarks. These fair value measurements were classified as Level 3 in the valuation hierarchy. In the third and fourth quarters of fiscal 2018, the Company incurred restructuring charges of $1,091 and $100 comprised primarily of employee termination costs and building maintenance costs. These costs were recorded within the “Other, net” line item within the consolidated statement of operations and are all attributable to the Engineered Products segment. The Company has concluded its wind-down of the RBC Canada location in the first quarter of fiscal 2019. The impact from restructuring in the first quarter of fiscal 2019 was immaterial. The total cumulative impact resulting from the restructuring was $6,743 in after-tax charges, all attributable to the Engineered Products segment.

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2018
Accounting Policies [Abstract]
Recent Accounting Standards Adopted	Recent Accounting Standards Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The Company adopted this standard on April 1, 2018. This new guidance provides a five-step model to determine when and how revenue is recognized, and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (“LTA’s”) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTA’s generally define commercial terms including pricing, termination clauses and other contractual requirements, they do not represent the contract with the customer. When the Company accepts or acknowledges the customer purchase order, the type of good or service is defined on a line by line basis. Individual performance obligations are established by virtue of the individual line items identified on the sales order acknowledgment at the time of issuance. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work. The performance obligations for these services are also identified on the sales order acknowledgement at the time of issuance on a line by line basis. Transaction price reflects the amount of consideration which the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. For the majority of our contracts, the Company may provide distinct goods or services in which case we separate the contract into more than one performance obligation (i.e. a good or service is individually listed in a contract or sold individually to a customer). The Company generally sells products and services with observable standalone selling prices. The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped, consistent with the pattern of revenue recognition under the previous accounting standard. The Company has determined that the customer obtains control upon shipment based on the shipping terms (either when it ships from RBC’s docks or when the product arrives at the customer’s docks) and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the asset. Approximately 93% of the Company’s revenue was recognized in this manner based on sales for the first quarter of fiscal 2019. The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined over-time revenue recognition is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Approximately 6% of the Company’s revenue was recognized in this manner based on sales for the first quarter of fiscal 2019. Over-time revenue recognition is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. These types of contracts comprised less than 1% of total sales for the three-month period ended June 30, 2018. For both of these types of contracts, revenue is recognized in an over-time model based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time contracts as we believe this measure best depicts the transfer of control to the customer, which occurs as we incur costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs. Contract costs are the incremental costs of obtaining and fulfilling a contract (i.e., costs that would not have been incurred if the contract had not been obtained) to provide goods and services to customers. Contract costs largely consist of design and development costs for molds, dies and other tools that RBC will own and that will be used in producing the products under the supply arrangements. These contract costs are amortized to expense on a systematic and rational basis over a period consistent with the transfer to the customer of the goods or services to which the asset relates. Costs incurred to obtain a contract are primarily related to sales commissions and are expensed as incurred as they are generally not tied to specific customer contracts. These costs are included within selling, general and administrative costs on the consolidated statements of operations. In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the respective estimated shipping and handling costs are accrued. In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting”, in an effort to reduce diversity in practice as it relates to applying modification accounting for changes to the terms and conditions of share-based payment awards. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption was permitted. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, in all effort to improve the presentation of these costs within the income statement. Under previous GAAP, all components of both net periodic pension cost and net periodic postretirement cost were included within the same line items as other compensation costs arising from services rendered by pertinent employees during the period on the income statement. This ASU requires entities to include only the service cost component within those line items whereas all other components would be included within other non-operating expense. In addition, only the service cost component would be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. A practical expedient allows the Company to use the amount disclosed for net periodic benefit costs for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company retrospectively adopted the ASU on April 1, 2018 and utilized this practical expedient. The adoption of this ASU resulted in the reclassification of $0.2 million of net periodic benefit cost from compensation costs (included within Cost of sales and Other, net) to Other non-operating expense on the Consolidated Statement of Operations for the three-month period ended July 1, 2017. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740):Intra-Entity Transfers of Assets Other Than Inventory”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Previous GAAP prohibited the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU established the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application was permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU was effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application was permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company adopted this ASU on April 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements.
Recent Accounting Standards Yet to Be Adopted	Recent Accounting Standards Yet to Be Adopted In February 2018, the FASB issued ASU No. 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” which allows companies to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (“TCJA” or “the Act”), from accumulated other comprehensive income to retained earnings. These stranded tax effects refer to the tax amounts included in accumulated other comprehensive income at the previous 35% U.S. corporate statutory federal tax rate, for which the related deferred tax asset or liability was remeasured to the new 21% U.S. corporate statutory federal tax rate in the period of the TCJA enactment. The new standard is effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and can be applied either in the period of adoption or retrospectively to each period impacted by the TCJA. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on the Company’s financial position as the adjustment will be between accumulated other comprehensive income and retained earnings, both of which are components of total stockholders’ equity. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”. The objective of this standard update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The standard update is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In September 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”, which changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance will replace the current incurred loss approach with an expected loss model. The new expected credit loss impairment model will apply to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application will require significant judgment. This ASU is effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The core principle of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company has formed an implementation team to assess its leases as defined under the new accounting standard and anticipates making certain changes to existing processes, policies and systems during implementation. The Company anticipates the amended guidance will have a material impact on its assets and liabilities due to the addition of right-of-use assets and lease liabilities to the balance sheet; however, it does not expect the amended guidance to have a material impact on its cash flows or results of operations. Other new pronouncements issued but not effective until after March 30, 2019 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with Customers (Tables)

3 Months Ended

Jun. 30, 2018

Revenue From Contracts With Customers Tables Abstract

Schedule of revenue from business segments of customers

Comparative information of the Company’s overall revenues for the three months ended June 30, 2018 and July 1, 2017 are as follows:

Principal End Markets:

	Three Months Ended

	June 30, 2018						July 1, 2017
	Aerospace		Industrial		Total		Aerospace		Industrial		Total
Plain	$	56,384	$	22,141	$	78,525	$	54,471	$	18,182	$	72,653
Roller		16,887		18,983		35,870		15,939		15,474		31,413
Ball		4,004		14,070		18,074		3,645		12,135		15,780
Engineered Products		27,216		16,300		43,516		29,407		14,644		44,051
	$	104,491	$	71,494	$	175,985	$	103,462	$	60,435	$	163,897

Schedule of allowance for doubtful accounts

The tables below represent a rollforward of the allowance for doubtful accounts, contract assets and contract liabilities for the first quarter ended June 30, 2018:

Contract Assets - Current ⁽¹⁾

Balance at April 1, 2018	$1,323
Additional revenue recognized in excess of billings	1,361
Less: amounts billed to customers	(333)
Balance at June 30, 2018	$2,351
(1) Included within “Prepaid expenses and other current assets” on the consolidated balance sheet.

Contract Liabilities – Current ⁽²⁾

Balance at April 1, 2018	$14,450
Payments received prior to revenue being recognized	3,211
Revenue recognized on beginning balance	(5,034)
Reclassification to/from noncurrent	(914)
Balance at June 30, 2018	$11,713
(2) Included within “Accrued expenses and other current liabilities” on the consolidated balance sheet.

Contract Liabilities – Noncurrent ⁽³⁾

Balance at April 1, 2018	$1,254
Reclassification to/from current	914
Balance at June 30, 2018	$2,168
(3) Included within “Other non-current liabilities” on the consolidated balance sheet.

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Schedule of accumulated other comprehensive income loss

The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes:

	Currency Translation	Pension and Postretirement Liability	Total
Balance at April 1, 2018	$ 2,213	$(4,498)	$(2,285)
Other comprehensive income before reclassifications	(4,061)	—	(4,061)
Amounts reclassified from accumulated other comprehensive income	—	194	194
Net current period other comprehensive income	(4,061)	194	(3,867)
Balance at June 30, 2018	$(1,848)	$(4,304)	$(6,152

Net Income Per Common Share (Tables)

3 Months Ended

Jun. 30, 2018

Net income per common share:

Schedule basic and diluted net income per common share

The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share:

	Three Months Ended
	June 30, 2018	July 1, 2017

Net income	$27,467	$21,809

Denominator for basic net income per common share—weighted-average shares outstanding	24,140,778	23,805,138
Effect of dilution due to employee stock awards	402,811	384,237
Denominator for diluted net income per common share — weighted-average shares outstanding	24,543,589	24,189,375

Basic net income per common share	$ 1.14	$ 0.92

Diluted net income per common share	$ 1.12	$ 0.90

Inventory (Tables)

3 Months Ended

Jun. 30, 2018

Inventory, Net [Abstract]

Schedule of inventory

Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below:

	June 30, 2018	March 31, 2018
Raw materials	$ 47,620	$ 44,102
Work in process	77,692	77,890
Finished goods	185,993	184,132
	$311,305	$306,124

Goodwill and Intangible Assets (Tables)

3 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Goodwill

	Roller	Plain	Ball	Engineered Products	Total
April 1,2018	$16,007	$79,597	$5,623	$166,897	$268,124
Translation adjustments	—	—	—	(2)	(2)
June 30, 2018	$16,007	$79,597	$5,623	$166,895	$268,122

Schedule of intangible assets

Intangible Assets

		June 30, 2018		March 31, 2018
	Weighted Average Useful Lives	Gross Carrying Amount	Accumulated Amortization	Gross Carrying Amount	Accumulated Amortization
Product approvals	24	$ 50,878	$ 8,882	$ 50,878	$ 8,351
Customer relationships and lists	24	106,583	17,569	106,583	16,499
Trade names	10	18,734	7,229	18,734	6,765
Distributor agreements	5	722	722	722	722
Patents and trademarks	16	9,875	4,996	9,657	4,810
Domain names	10	437	437	437	430
Other	6	1,681	1,408	1,433	1,303
		188,910	41,243	188,444	38,880
Non-amortizable repair station certifications	n/a	34,200	—	34,200	—
Total		$223,110	$41,243	$222,644	$38,880

Schedule of estimated amortization expense

2019………………………………………………………………………………………….	$ 6,679
2020………………………………………………………………………………………….	8,948
2021………………………………………………………………………………………….	8,896
2022………………………………………………………………………………………….	8,779
2023………………………………………………………………………………………….	8,695
2024………………………………………………………………………………………….	8,564
2025 and thereafter…………………………………………………………………………..	97,106

Debt (Tables)

3 Months Ended

Jun. 30, 2018

Debt Instruments [Abstract]

Schedule of balances payable under borrowing facilities

The balances payable under all borrowing facilities are as follows:

	June 30, 2018	March 31, 2018
Revolver Facility	$139,250	$ 500
Term Loan Facility	—	168,750
Debt issuance costs	(1,651)	(2,968)
Other	6,694	7,073
Total debt	144,293	173,355
Less: current portion	470	19,238
Long-term debt	$143,823	$154,117

Postretirement Health Care and Life Insurance Benefits (Tables)

3 Months Ended

Jun. 30, 2018

Defined Contribution Plan [Abstract]

Schedule of defined benefit pension plan

The following tables set forth the net periodic benefit cost of the Company’s noncontributory defined benefit pension plan and contributory defined benefit health care plans.

Pension Plan:

	Three Months Ended
	June 30, 2018	July 1, 2017
Components of net periodic benefit cost:
Service cost	$ 64	$ 58
Interest cost	221	226
Expected return on plan assets	(417)	(403)
Amortization of prior service cost	9	9
Amortization of losses	249	302
Net periodic benefit cost	$126	$192

Schedule of postretirement benefit costs

Postretirement Health Care and Life Insurance Benefits:

	Three Months Ended
	June 30, 2018	July 1, 2017
Components of net periodic benefit cost:
Service cost	$12	$ 8
Interest cost	23	25
Amortization of prior service cost	1	1
Amortization of losses	(7)	(1)
Net periodic benefit cost	$29	$33

Reportable Segments (Tables)

3 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Schedule of segment information

Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

	Three Months Ended
	June 30, 2018			July 1, 2017
Net External Sales
Plain	$	78,525		$	72,653
Roller		35,870			31,413
Ball		18,074			15,780
Engineered Products		43,516			44,051
	$	175,985		$	163,897
Gross Margin
Plain	$	30,616		$	28,450
Roller		14,957			12,788
Ball		7,279			6,175
Engineered Products		14,887			14,603
	$	67,739		$	62,016
Selling, General & Administrative Expenses
Plain	$	6,362		$	6,449
Roller		1,624			1,571
Ball		1,602			1,615
Engineered Products		5,360			5,277
Corporate		14,627			12,866
	$	29,575		$	27,778
Operating Income
Plain	$	21,687		$	21,235
Roller		13,332			11,216
Ball		5,618			4,495
Engineered Products		10,634			8,217
Corporate		(15,273	)		(13,204	)
	$	35,998		$	31,959
Intersegment Sales
Plain	$	1,597		$	1,156
Roller		4,095			3,409
Ball		800			528
Engineered Products		9,138			8,173
	$	15,630		$	13,266

Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands		3 Months Ended
	Dec. 22, 2017	Jun. 30, 2018	Jul. 01, 2017
U.S. statutory tax rate (in percent)	21.00%	17.40%	25.80%
Previously U.S. statutory tax rate (in percent)	35.00%
Percentage of total net sales		6.00%
Single Performance [Member]
Percentage of total net sales		93.00%
Accounting Standards Update 2017-07 [Member]
Reclassification net periodic benefit cost			$ 200
Maximum [Member]
Percentage of total net sales		1.00%

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Revenue from contracts with customers	$ 175,985	$ 163,897
Plain [Member]
Revenue from contracts with customers	78,525	72,653
Roller [Member]
Revenue from contracts with customers	35,870	31,413
Ball [Member]
Revenue from contracts with customers	18,074	15,780
Engineered Products [Member]
Revenue from contracts with customers	43,516	44,051
Aerospace [Member]
Revenue from contracts with customers	104,491	103,462
Aerospace [Member] \| Plain [Member]
Revenue from contracts with customers	56,384	54,471
Aerospace [Member] \| Roller [Member]
Revenue from contracts with customers	16,887	15,939
Aerospace [Member] \| Ball [Member]
Revenue from contracts with customers	4,004	3,645
Aerospace [Member] \| Engineered Products [Member]
Revenue from contracts with customers	27,216	29,407
Industrial [Member]
Revenue from contracts with customers	71,494	60,435
Industrial [Member] \| Plain [Member]
Revenue from contracts with customers	22,141	18,182
Industrial [Member] \| Roller [Member]
Revenue from contracts with customers	18,983	15,474
Industrial [Member] \| Ball [Member]
Revenue from contracts with customers	14,070	12,135
Industrial [Member] \| Engineered Products [Member]
Revenue from contracts with customers	$ 16,300	$ 14,644

Revenue from Contracts with Customers (Details 1)
$ in Thousands

3 Months Ended

Jun. 30, 2018

USD ($)

Contract Assets - Current

Balance at beginning

$ 1,323

^[1]

Additional revenue recognized in excess of billings

1,361

^[1]

Less: amounts billed to customers

(333)

^[1]

Balance at ending

2,351

^[1]

Balance at beginning

14,450

^[2]

Payments received prior to revenue being recognized

3,211

^[2]

Revenue recognized on beginning balance

(5,034)

^[2]

Reclassification to/from noncurrent

(914)

^[2]

Balance at ending

11,713

^[2]

Balance at beginning

1,254

^[3]

Reclassification to/from current

914

^[3]

Balance at ending

$ 2,168

^[3]

[1]	Included within "Prepaid expenses and other current assets" on the consolidated balance sheet.
[2]	Included within "Accrued expenses and other current liabilities" on the consolidated balance sheet.
[3]	Included within "Other non-current liabilities" on the consolidated balance sheet.

Revenue from Contracts with Customers (Details Narrative) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2018 USD ($) Segment $ / shares	Jul. 01, 2017 USD ($) $ / shares	Apr. 01, 2018 USD ($)	Mar. 31, 2018 USD ($)
Retained earnings	$ 564,168			$ 536,978
Operating income	35,998	$ 31,959
Net income	$ 27,467	$ 21,809
Basic income per share (in dollars per share) \| $ / shares	$ 1.14	$ 0.92
Diluted income per share (in dollars per share) \| $ / shares	$ 1.12	$ 0.90
Inventory work-in-process	$ 77,692			77,890
Transaction price allocated to remaining performance obligations	1 year
The aggregate amount of the transaction price allocated to remaining performance obligations	$ 195,384
Remaining performance obligations over the next 12 months	74.00%
Remaining performance obligations over the next 24 months	96.00%
Revenue recognize remaining performance obligations	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">The remaining performance obligations over the next 12 months, with the remainder being recognized within 24 months.</font></p>
Accounts receivable with customers, Gross	$ 116,211			$ 116,890
Number of segment \| Segment	4
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Retained earnings	$ 200		$ (300)
Contract assets			1,300
Contract liabilities			800
Sales	1,100
Operating income	600
Net income	$ 500
Basic income per share (in dollars per share) \| $ / shares	$ 0.02
Diluted income per share (in dollars per share) \| $ / shares	$ 0.02
Inventory work-in-process	$ (1,400)		$ (800)
Prepaids and other current assets	2,400
Accrued expenses and other current liabilities	$ 600

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Accounting Policies [Abstract]
Balance Beginning, Currency Translation	$ 2,213
Other comprehensive income before reclassifications, Currency Translation	(4,061)
Amounts reclassified from accumulated other comprehensive loss, Currency Translation
Net current period other comprehensive income, Currency Translation	(4,061)	$ 4,445
Balance Ending, Currency Translation	(1,848)
Balance Beginning, Pension and Postretirement Liability	(4,498)
Other comprehensive income before reclassifications, Pension and Postretirement Liability
Amounts reclassified from accumulated other comprehensive loss, Pension and Postretirement Liability	194
Net current period other comprehensive income, Pension and Postretirement Liability	(194)	$ (196)
Balance Ending, Pension and Postretirement Liability	(4,304)
Balance Beginning, Total	(2,285)
Other comprehensive income before reclassifications	(4,061)
Amounts reclassified from accumulated other comprehensive loss	194
Net current period other comprehensive income	(3,867)
Balance Ending, Total	$ (6,152)

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Accounting Policies [Abstract]
Net income	$ 27,467	$ 21,809
Denominator:
Denominator for basic net income per common share - weighted-average shares	24,140,778	23,805,138
Effect of dilution due to employee stock options	402,811	384,237
Denominator for diluted net income per common share - adjusted weighted-average shares	24,543,589	24,189,375
Basic net income per common share	$ 1.14	$ 0.92
Diluted net income per common share	$ 1.12	$ 0.90

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Income Per Common Share (Details Narrative) - shares	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of Employee Stock Options Excluded from the Calculation of Diluted Earnings Per Share	87,540	221,500
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of Employee Stock Options Excluded from the Calculation of Diluted Earnings Per Share	204,175	0

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 47,620	$ 44,102
Work in process	77,692	77,890
Finished goods	185,993	184,132
Inventory, total	$ 311,305	$ 306,124

Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
Goodwill and Intangible Assets (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Goodwill [Line Items]
Goodwill Beginnning Balance	$ 268,124
Translation adjustments	(2)
Goodwill Ending Balance	268,122
Roller [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	16,007
Translation adjustments
Goodwill Ending Balance	16,007
Plain [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	79,597
Translation adjustments
Goodwill Ending Balance	79,597
Ball [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	5,623
Translation adjustments
Goodwill Ending Balance	5,623
Engineered Products [Member]
Goodwill [Line Items]
Goodwill Beginnning Balance	166,897
Translation adjustments	(2)
Goodwill Ending Balance	$ 166,895

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Non-amortizable repair station certifications	$ 34,200	$ 34,200
Gross amount	223,110	222,644
Accumulated Amortization	$ 41,243	38,880
Product Approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 50,878	50,878
Accumulated Amortization	$ 8,882	8,351
Customer Relationships And Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 106,583	106,583
Accumulated Amortization	$ 17,569	16,499
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 18,734	18,734
Accumulated Amortization	$ 7,229	6,765
Distributor Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 722	722
Accumulated Amortization	$ 722	722
Patents And Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	16 years
Gross Carrying Amount	$ 9,875	9,657
Accumulated Amortization	$ 4,996	4,810
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 397	430
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	6 years
Gross Carrying Amount	$ 1,681	1,433
Accumulated Amortization	$ 1,408	$ 1,303

Goodwill and Intangible Assets (Details 2) $ in Thousands	Jun. 30, 2018 USD ($)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2019	$ 6,679
2020	8,948
2021	8,896
2022	8,779
2023	8,695
2024	8,564
2025 and thereafter	$ 97,106

Goodwill and Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 2,363	$ 2,353

Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Debt issuance cost	$ (1,651)	$ (2,968)
Total debt	144,293	173,355
Less: current portion	470	19,238
Long-term debt	143,823	154,117
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	6,694	7,073
Revolving Facility [Member]
Debt Instrument [Line Items]
Total debt	139,250	500
Term Loan [Member]
Debt Instrument [Line Items]
Total debt		$ 168,750

Debt (Details Narrative) SFr in Thousands, $ in Thousands				1 Months Ended	3 Months Ended
Debt (Details Narrative) SFr in Thousands, $ in Thousands	May 31, 2018 USD ($)	Oct. 01, 2012 USD ($)	Oct. 01, 2012 CHF (SFr)	Apr. 24, 2015 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2018 CHF (SFr)	Mar. 31, 2018 USD ($)	Oct. 01, 2012 CHF (SFr)
Debt Instruments, Issuance Costs					$ 1,651		$ 2,968
Schaublin [Member]
Cash paid for purchase price		$ 5,053
Schaublin [Member] \| CHF
Cash paid for purchase price \| SFr			SFr 4,767
Schaublin [Member] \| Land and Building [Member]
Land and building leased		$ 14,910
Period for fixed rate on mortgage loan		20 years	20 years
Mortgage loan interest rate		2.90%	2.90%
Mortgage loan fixed rate		$ 9,857
Mortgage loan					$ 6,694
Schaublin [Member] \| Land and Building [Member] \| CHF
Land and building leased \| SFr								SFr 14,067
Mortgage loan fixed rate \| SFr								SFr 9,300
Mortgage loan \| SFr						SFr 6,626
New Credit Agreement [Member] \| Maximum [Member]
Consolidated net debt adjusted EBITDA ratio					3.50
Consolidated Interest Coverage Ratio					2.75
New Credit Agreement [Member] \| Minimum [Member]
Consolidated net debt adjusted EBITDA ratio					1
Consolidated Interest Coverage Ratio					1
Letter of Credit [Member]
Line of Credit					$ 3,990
Line of Credit Facility, Remaining Borrowing Capacity					206,760
Term Loan [Member]
Unamortization Of Financing Costs	$ 987				1,651
Sargent Aerospace Defense Business [Member]
Business Acquisition, Date of Acquisition Agreement				Apr. 24, 2015
Sargent Aerospace Defense Business [Member] \| New Credit Agreement [Member]
Debt Issuance Original Amount					$ 7,122
Sargent Aerospace Defense Business [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					0.00%
Sargent Aerospace Defense Business [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate					1.00%
Debt Instrument, Description of Variable Rate Basis					<p><font style="font: 10pt Times New Roman, Times, Serif">higher of (1) Wells Fargos prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin, depending on the type of borrowing being made</font></p>
Sargent Aerospace Defense Business [Member] \| Revolving Facility [Member]
Debt Instrument, Face Amount				$ 350,000
Sargent Aerospace Defense Business [Member] \| Term Loan [Member]
Debt Instrument, Face Amount				$ 200,000

Pension Plan and Postretirement Health Care and Life Insurance Benefits (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Components of net periodic benefit cost:
Service cost	$ 64	$ 58
Interest cost	221	226
Expected return on plan assets	(417)	(403)
Amortization of prior service cost	9	9
Amortization of losses	249	302
Net periodic benefit cost	$ 126	$ 192

Pension Plan and Postretirement Health Care and Life Insurance Benefits (Details 1) - Postretirement Benefit Plans [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 12	$ 8
Interest cost	23	25
Amortization of prior service cost	1	1
Amortization of losses	(7)	(1)
Net periodic benefit cost	$ 29	$ 33

Income Taxes (Details Narrative) - USD ($) $ in Thousands		3 Months Ended
Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Jun. 30, 2018	Jul. 01, 2017
Income Tax Disclosure [Abstract]
Income tax provision at the federal statutory rate	21.00%	17.40%	25.80%
Income tax provision at the federal statutory rate reduced	35.00%
Undistributed foreign earnings		$ 9,166
U.S. corporate income tax rate amount		9,318
Unrecognized tax positions statute of limitations expiration		$ 1,404	$ 2,322
Effective income tax rate without discrete		21.60%	33.70%
Estimated Decrease In Unrecognized Tax Positions In Credits And State Tax		$ 1,734

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
Reportable Segments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jul. 01, 2017
Segment Reporting Information [Line Items]
Net External Sales	$ 175,985	$ 163,897
Gross Margin	67,739	62,016
Selling, General & Administrative Expenses	29,575	27,778
Operating Income	35,998	31,959
Intersegment Sales	15,630	13,266
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	78,525	72,653
Gross Margin	30,616	28,450
Selling, General & Administrative Expenses	6,362	6,449
Operating Income	21,687	21,235
Intersegment Sales	1,597	1,156
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	35,870	31,413
Gross Margin	14,957	12,788
Selling, General & Administrative Expenses	1,624	1,571
Operating Income	13,332	11,216
Intersegment Sales	4,095	3,409
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	18,074	15,780
Gross Margin	7,279	6,175
Selling, General & Administrative Expenses	1,602	1,615
Operating Income	5,618	4,495
Intersegment Sales	800	528
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	43,516	44,051
Gross Margin	14,887	14,603
Selling, General & Administrative Expenses	5,360	5,277
Operating Income	10,634	8,217
Intersegment Sales	9,138	8,173
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	14,627	12,866
Operating Income	$ (15,273)	$ (13,204)

Integration and Restructuring of Industrial Operations (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017
Employee Termination Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 100	$ 1,091
Engineered Products [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 5,577
Impairment of fixed assets	1,337
Impairment of intangible assets (excluding goodwill)	5,157
Discrete tax benefit	917
Total expected restructuring after-tax charges	$ 6,743